In recent years, European Union countries have significantly changed their import schemes for rare earth elements, reducing dependence on Russian supplies and increasing purchases from China. This has been a response to the geopolitical situation and a desire to diversify resource sources.
This is reported by Бізнес • Медіа
Import Statistics for Rare Earth Elements in the EU
In 2020, European Union countries imported 10,700 tons of rare earth metals worth approximately 72.3 million euros. Of this, over half—9.9 million euros—was supplied by Russia. While China’s share was 43%, other importing countries accounted for only 6.5% of the imports.
The following year, the volume of purchases increased to 16,900 tons, corresponding to an amount of 106.5 million euros. During this period, Russia’s share decreased to 27.2%, while China’s share rose to 35.5%, even though the volume of supplies increased.
Import Trends in 2022-2024
In 2022, the volume of rare earth metal imports to the EU reached 18,400 tons, valued at 145.7 million euros. Analysis shows that China’s share increased to 40.2%, while Russia’s share decreased to 24.5%. The share from other countries accounted for 35.3%.
In 2024, the level of purchases slightly decreased to 12,900 tons worth 101.5 million euros, but China’s share rose to 46.5%, while Russia’s share increased to 28.7%. At the same time, the share of supplies from other countries decreased to 24.8%. This indicates the EU’s strategy to diversify resource sources and strengthen ties with China.